@buildawhale has been running burn posts for over a year. A recent change was to convert that to one daily post and 11 comments. I have been tracking how much has been burned on a daily basis.
In April we burned 19,130 Hive and 6,941 HBD or just over $13,000. That is roughly $435/day.
As I always say, I don't think burning actually does anything, but the sell pressure that is prevented does. It's hard to compete with DHF proposals handing out $500-800+ /day for projects with little to no improvement to Hive but every little bit helps.
The burn posts are here to offer stake holders an alternative choice for directing inflation as little or as much as you want.
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How much is the total amount being paid out in post rewards and DHF (excluding hbdstabilizer, which returns it all)? From the point of view of sell pressure, knowing the relative scale of it all seems useful.
We are currently paying out ~$5.7M/year in DHF proposals. Most of them are extracting 10x what they give to Hive. Quick napkin math our reward pool is paying out ~$6.7M/year
Both seem like too much to me. We should push for changes to prioritize the most valuable payouts and put a stop to the rest.
The DHF is a bit less, I didn't realize there is another value plan proposal currently, so that raises the daily payout a lot. I just quickly looked at PeakD and subtracted your $12K/day stabilizer. Looks like it is more like $2.1M/year right now (plus the 3-4 value proposals a year which maybe another 500K-1M or so).
so this $435 includes the DHF proposal, not solely daily burn post can achieve this amount, right?
The $435/day is purely the average burn so far. Last month was a bit better at over $600/day. There is no DHF proposal tied to this, it is merely an attempt to reduce supply.
Wow, it's so impressive. I don't expect this high number when I see the reward of each burn post.
Look at all the comments, they burn more than the post. The idea is just one post a day so people can find it, all the comments are where the real burning happens. It's to prevent spamming trending.
Thanks for your explanation. I understand it now.
LOL, I'm making a fortune on posts that send all the rewards to @null. You caught me!
As I have explained to you many times, I get the same curation rewards regardless of what I vote on.
$43 foe a sentence, why is this not burning? Thanks for visiting my blog also
If it is a way to keep the economy inflation down, lets burn it.
AnyWay around here we have few projects and we can burn them into some construction materials...✊🏻🛹🇻🇪
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It's so crazy to me the funding that happens on the DHF and why it continues to be funded. It feels so centralized to about 30 main accounts or even less that can simply fund the project for themselves. Not really a great look for a so called decentralized blockchain that actully feels more centralized then most.
How are development projects and marketing initiatives not going to be 'centralized'? Do you think it makes sense to pay out a few dollars to each of hundreds or thousands of different accounts such that no one is being paid enough to actually do anything?
I think it's fair to criticize specific proposals as being overpriced, ineffective, or generally a waste of money, and that's an important debate. But I don't think "centralized" really makes sense as a criticism to funding work projects at our current scale of hundreds of dollars per day. To be distributed more widely would make each payout utterly meaningless and clearly ineffective.
I keep hearing about burning posts, please what does it really mean @themarkymark?
It means all the author rewards earned on these posts are automatically burned upon payout reducing the supply.
Ohhhhh I get now. Thanks for taking the time to explain.
Would it be possible to eliminate the DHF eventually?
Has it been discussed?
I doubt that would ever happen. The DHF isn’t a bad thing just how it is being used.
The incentive to use the DHF "correctly" should be to fund projects that drive the improvement of HIVE as a whole which would benefit each and every account holding HIVE, yet we're using it "wrong".
Could there be a problem of misaligned incentives in the design of the DHF?
Are there not enough dolphin and orca accounts involved in voting for DHF proposals?
The problem is people, not technology.
Probably, but that's really not the problem.
Wow, wow, I had no idea, there were daily burnings of those amounts, wow!! Hive is a whole world to discover
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